The registration procedure is stipulated in the chapter Registration of The Power Exchange Operational Rules (Promulg. SG 55/19 June 2020)

Initial requirements to the applicants:

• A license issued by the Energy and Water Regulatory Commission (EWRC), when a license is required for the operations of the trading participant;
• Active status in the register of trading participants of Electricity System Operator EAD;
• ACER code, issued in accordance with Regulation (EU) No 1227/2011 of the European Parliament and of the Council of 25 October 2011 on wholesale energy market integrity and transparency.

The registration procedure includes the following steps:

1. Submitting an Application for registration on the organized power exchange market for electricity and the appendices thereto.

The registration procedure starts with sending a filled-in Application for registration on the organized power exchange market for electricity to the operator at application@ibex.bg or to the contact address of IBEX EAD.
The application enables the applicant to choose a market segment/s where to apply for participation and is an integral part of the Agreement for participation in the organized power exchange market for electricity.
Appendices to the application:

• Corporate standing certificate as per court registration;
• VAT registration certificate;
• Application for participation in training for operation with the electronic trading systems of the organized power exchange market for electricity (this appendix is not mandatory);
• A declaration that the applicant will purchase electricity for the purposes of their own consumption (filled in only by electricity consumers).

Period for considering the application: 5 (five) working days

1. Concluding an Agreement for participation in the power exchange market for electricity

When the application has been accepted by the operator, the team of IBEX EAD shall send to the applicant An agreement for participation in the organized power exchange market for electricity.

• In the event that the trading participant is already registered on a market segment, part of the power exchange market for electricity, and it sends an application for registration on another market segment, the trading participant and IBEX EAD shall conclude  an Annex to the Agreement for participation in the organized power exchange market for electricity.

1. Providing collateral in accordance with PEOR and IBEX EAD Tariff.

Within 15 days of singing the agreement for participation in the organized power exchange market for electricity the trading participant shall have to provide to the Operator minimum collateral in accordance with chapter Settlement rules from the Power Exchange Operational Rules. The amount of the minimum collateral for each market segment is set in IBEX EAD Tariff, where it needs to be noted that there is common  collateral for Day-ahead and Intraday market segments.
Here you can find more information on settlement and collateral.

1. Payment of the applicable prices in accordance with IBEX EAD Tariff

Within 15 days of signing the agreement for participation in the organized power exchange market for electricity, the trading participant shall have to pay the applicable prices in accordance with the Power Exchange Operational Rules and IBEX EAD Tariff.

1. Obtaining a certificate for successfully completed training

The persons responsible for training nominated by the trading participant in the agreement for participation in the organized power exchange market for electricity shall have to pass a training course for introduction to the Power Exchange Operational Rules and for operation with the electronic trading systems (ETS). The trading participant shall have to pay a training fee in accordance with the IBEX EAD Tariff. The training is held in accordance with Instruction № 1 Training.

• The persons responsible for settlement shall have to take a course for operation with the electronic settlement systems in accordance with the Power Exchange Operational Rules and Instruction № 1 Training. The training for operation with the electronic settlement systems is free of charge.

1. Provision of access

After the trading participant has completed the steps listed above, the operator  shall provide access to the respective electronic trading and settlement systems to the persons responsible for trading and the persons responsible for settlement.
 
The registration procedure is successfully completed and the trading participant obtains an Active status on Intraday and Day-ahead market segments and Registered status on Bilateral contracts market segment.